Indigo Paints listed its shares with a premium of 75% on the stock market on 2nd February. This is due to the Union Budget announced on 1st February that improved investor sentiment, according to Moneycontrol.
The premium is much higher than what the analysts expected. Indigo Paints also witnessed a subscription figure of 117 times and a robust growth in earnings. Experts are now suggesting holding at least some stock allotment for long-term while booking partial profits on the day of listing. Gaurav Garg, Head of Research at CapitalVia Global Research told Moneycontrol that investors who have a short to long term perspective may stay put with their holdings.
Indigo Paints is the fifth largest decorative paint company in India in terms of revenue earned in fiscal 2020.